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FOX Business
Aug 11, 2013 8:00am EDT
could build houses, they just went there because it was cheap. land in detroit right now is cheap. you can buy a house there if you want, but no one wants to right now. all right. so go elsewhere. >> all right. is part of the solution credit? >> i thought that was how we developed alaska, incentivizing people out there. but the government's had a role of developg this country. the private sector is sttrong enough now to handle the for profit housing market. there is a way to make money from a lot. there's all of these funds that are buying dilapidated properties however, when you have a situation that's uneconomic where there is no free market solution, that's when it becomes the role of government. when you've got a house that's dilapidated, it's not going to go away if it's worth nothing like in detroit, for example. otherwise it's like a manmade disaster le a dust bowl. we have to fix up our own mistakes we made. >> okay. john, you've heard it all. >> frannie and freddie are going away, why aren't you celebrating? >> i was just in france, and, believe me, they like texan wearing cow
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